The 1931-S Buffalo Nickel is worth anywhere from $25 in heavily worn condition to well over $1,000 in higher mint state grades — and for a coin that’s nearly 100 years old, that’s pretty exciting news if you just pulled one out of an old jar or coin collection.
What Makes the 1931-S Buffalo Nickel Special
The 1931-S Buffalo Nickel was struck at the San Francisco Mint during one of the toughest years of the Great Depression. Mintage numbers dropped sharply that year — only 1,200,000 of these nickels were produced, making it one of the lowest-mintage issues in the entire Buffalo Nickel series.
That scarcity is a big deal in the coin world. Lower mintage generally means fewer surviving examples, which drives up demand among collectors. When you combine limited supply with strong collector interest, you get a coin that holds real value even in circulated condition.
So if you found a Buffalo Nickel with an “S” mintmark on the reverse (just below “FIVE CENTS”), there’s a good chance you’re holding something worth a closer look. A free coin identifier app can help you quickly confirm the date and mintmark before you do anything else with the coin.
1931-S Buffalo Nickel Value by Grade
Coin condition — known as “grade” — is everything when it comes to value. A 1931-S Buffalo Nickel that’s been heavily circulated is still worth money, but one that’s well-preserved can fetch dramatically more.
Here’s a general breakdown of what the 1931-S Buffalo Nickel is worth across different grades:
| Grade | Description | Estimated Value |
|---|---|---|
| G-4 (Good) | Heavily worn, outline visible | $25 – $35 |
| VG-8 (Very Good) | Moderate wear, some detail | $40 – $55 |
| F-12 (Fine) | Even wear, main features clear | $60 – $80 |
| VF-20 (Very Fine) | Light wear, sharp detail | $90 – $130 |
| EF-40 (Extremely Fine) | Slight wear on high points | $175 – $250 |
| MS-63 (Mint State) | Uncirculated, minor marks | $600 – $900 |
| MS-65 (Gem) | Exceptional, nearly flawless | $1,200+ |
For the most current auction results and dealer pricing, you can check out live 1931-S Buffalo Nickel price data in mint state grades to see how the market is trending right now.
How to Identify Your 1931-S Buffalo Nickel
Identifying this coin is straightforward once you know what to look for. The obverse (front) shows a Native American portrait, while the reverse (back) features a buffalo standing on a mound.
The key detail is the mintmark — a small “S” located on the reverse side, just below “FIVE CENTS.” This “S” tells you the coin was made in San Francisco. No mintmark means Philadelphia; a “D” means Denver.
Check the date on the obverse as well. On worn examples, the date can be partially or fully worn away. Buffalo Nickels are notorious for this — the date was positioned in a spot that wore down faster than other areas. If your date is visible and shows “1931” with an “S” mintmark, you’ve got one of the key semi-key dates in the series.
CoinHix makes it easy to look up your coin’s value instantly. Just enter the year, mint, and condition and you’ll get real market data right away.
Tips for Selling or Getting Your 1931-S Buffalo Nickel Appraised
If you think you’ve got a high-grade example, professional grading from PCGS or NGC is worth considering. A certified coin is easier to sell and often commands a premium over raw (ungraded) examples.
For circulated examples, options include local coin dealers, estate sales, or online marketplaces like eBay. Always get multiple opinions before selling — especially if the coin looks especially sharp or well-preserved.
You can also use CoinHix to get a quick estimate before you walk into a dealer’s shop, so you know roughly what to expect and won’t be caught off guard.
For a full breakdown of value across all grades and conditions, this detailed guide to 1931 Buffalo Nickel values and what affects the price covers everything from worn examples to top-tier mint state coins.
FAQ
Q: How do I know if my Buffalo Nickel is from 1931-S?
A: Look at the date on the front of the coin — it should read “1931.” Then flip it over and check below “FIVE CENTS” for a small “S” mintmark. If both are present, you have a 1931-S. Use CoinHix or another coin ID tool to double-check if you’re unsure.
Q: Is the 1931-S Buffalo Nickel rare?
A: Yes, it’s considered a semi-key date in the Buffalo Nickel series. With only 1.2 million minted, it’s one of the lower-mintage issues of the entire run. Even in circulated grades, it commands a solid premium over common-date Buffalo Nickels.
Q: What if the date on my Buffalo Nickel is worn off?
A: A coin with a missing date is generally worth only melt value or very little as a collectible. However, there are chemical date-restoration solutions designed specifically for Buffalo Nickels. Be aware that this process is irreversible and some collectors and dealers may still discount the coin even after the date appears. It’s best to consult a dealer before trying anything.
